Synergy Asset Management LLC Purchases Shares of 126 Public Storage (NYSE:PSA)

Synergy Asset Management LLC acquired a new position in shares of Public Storage (NYSE:PSA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 126 shares of the real estate investment trust’s stock, valued at approximately $38,000.

Several other hedge funds have also made changes to their positions in PSA. Truist Financial Corp boosted its stake in Public Storage by 4.6% in the 2nd quarter. Truist Financial Corp now owns 30,772 shares of the real estate investment trust’s stock worth $8,851,000 after buying an additional 1,361 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Public Storage during the 2nd quarter worth about $2,442,000. Czech National Bank boosted its position in shares of Public Storage by 6.5% in the third quarter. Czech National Bank now owns 32,087 shares of the real estate investment trust’s stock worth $11,675,000 after acquiring an additional 1,950 shares during the last quarter. Lwmg LLC acquired a new position in Public Storage during the third quarter worth approximately $268,000. Finally, Handelsbanken Fonder AB raised its stake in Public Storage by 4.1% during the third quarter. Handelsbanken Fonder AB now owns 72,741 shares of the real estate investment trust’s stock worth $26,468,000 after purchasing an additional 2,832 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Performance

NYSE:PSA opened at $298.50 on Friday. The firm has a 50-day moving average of $309.85 and a two-hundred day moving average of $325.62. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market cap of $52.27 billion, a P/E ratio of 31.00, a PEG ratio of 4.74 and a beta of 0.74. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99.

Analyst Ratings Changes

Several analysts have recently issued reports on PSA shares. Truist Financial boosted their price objective on shares of Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Evercore ISI lowered their price target on Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a research report on Monday, October 14th. Wells Fargo & Company cut their price objective on Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Barclays decreased their target price on Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and raised their price target for the company from $298.00 to $299.00 in a report on Friday, January 10th. Seven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Public Storage currently has an average rating of “Moderate Buy” and a consensus target price of $344.54.

Insider Activity at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of Public Storage stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $317.99, for a total transaction of $143,095.50. Following the sale, the insider now directly owns 2,364 shares in the company, valued at $751,728.36. The trade was a 15.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 11.00% of the stock is currently owned by company insiders.

Public Storage Company Profile

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At December 31, 2023, we had: (i) interests in 3,044 self-storage facilities located in 40 states with approximately 218 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which owned 275 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.